The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-03-11

i
ss.c unrraded red, s7a a 96sc; Ne. 8 red. Ole;
No. red, 93c ia elevator 9l3 09l}c Ia store,
81 092ac +. o. b., $50 934c aaoat; No. red,
95e; No. l white. 93c; No. 2 red, March,
92a 933c. closing at 92sc: June, 920 93c, clos
ING at 92.c: July, 9ls o 92sc, closing at 91ac;
August. Oh a 92ac, closing at 9lsc; September,
81 e 92sc, closing at 92sc; December, so 96ac,
closing at 95ac.
Cern-Spot firm aud moderately active Op-
tons opened 4 pc higher, later declined a 1tc,
closing with a recovery of SC. Speculation
moderate. Receipts, lo3, 400 bu; exports, 1928
ba sales, 704 600 bu futures and l26 600 bu spot;
ungraded. 4905 No. 3. 49c; steamer. 49,
49ac 10 elevator, SOLE delivered; No 2, 5o4 05oac
in elevator, 81! @ 5l4c delivered, 5osc f. Q. b.;
No. g. March, 49s a soc. closing at A9sc: April,
49, a 50sc, closing at 49sc May. 494 50ac, clos
ing 49sc; June. 49, a 5osc. closing at 49ic.
Oats shade lower. Receipts, 80, 00U bu:
porte, 300 bu; sales. 100000 bu futures and &c.
600 bu spot; mixed Western, 81 037c; white
Western, 37042c.
Hay dull and weak; shipping, 80 So
Coffee-Spot, fair Rio dull; options fairly act
i've and higher sales, 65.000 bags; March. IL 80
0l2 95e; April, IL So a BE; Nav, 1890 a be;
June, IL 80 &c. July, IL. 80 @ IL 05c August. IL
q IL %; September. 13 a 13 Toe; October, - lOc;
ry and February. l3 Zoe. Sugar quiet; refined
steady. Molasses dull and nominal
Rice steady. Rosn quiet and steady. Tallow
quiet
bellies, re. Lard l00l4 points higher and
moderately active; Western steam spot. quoted
at Sc; April 7.9S a s o7c; May, g. 03 08. lac: June.
g. 0o g. 1Sc; July, 8.l3 a s 23c; city steam. 760c.
Butter firm and demand fair; Western, 800
&c Cheese easier; demand moderate. Eggs
firm and fair demand; receipts, 8, 497 packages;
Western fresh 16i q 1910
Copper steady; lake, 10s 01Osc. Tin quiet.
Lead firm.
CHICAGO, March 10-The wheat market had
wicked temper to-day. The scenes of excite
ment which accompanied the sharp advance of
the preceding three days were rivaled shortly
after II o'clock, when there was a wild scramble
to unload long" wheat on a falling market.
There was large amount of 'bear" news and
disquieting rumors which provoked sort of
half panic and caused one of the sharpest de-
clines in prices that trade has known for years.
May delivery dropped to Sic, showing full de-
cline of &c from the top figures of yesterday.
Operators who had become confirmed in their
views that corner" on May wheat was pro-
Jected were divided in their views as to whether
the clique had sold their holdings were simply
allowing the market to drop back in order to
shake out all tho small dealers. Enormous
quantities of wheat we're thrown on the market
by local houses for customers stop" orders
and where margins had expired. The market
opened this morning with May at Size, or &c
lower than last night A rally to 84ac followed,
but, under the pressure Of large offerings, the
price broke off to S3c Considerable long
wheat was sold on the down turn, but the I'M
preston was that it was outside and scattering
lots, and not belonging to the "bulT clique.
A rally to $3.50 succeeded, with more conf
deuce being shown by operators 1t was
reported that the proposed duty on wheat
IN France was to 60 into effect, and
| this helped the depression. The government re-
port showing the amount of wheat on hand to be
in excess Of the supply one year ago, was also
regarded a strong bear argument While
s6statements may have had their effect, it
was noticed that several of the former big
bear" operators had commenced to throw very
large quantities OF wheat the market Half
million bushel lots were offered by one or two
prominent "bears," and when the panic was
near its height, the rumor was started that sew
eral large houses had failed. The result was
that prices fell off in the sharpest manner inn
aginable, until May had touched Sic. A reaction
to Site followed, where the market rested at
o'clock. The rumor Of the failures was dis
proved in the afternoon and the market rallied
to 82sc and closed for the day at 82a q 824c
Corn ruled strong, and, despite the big break in
wheat, maintained its price fairly we'll. The de-
mand was active on both local and outside &C.
counts with shorts" buying freely. The start
ing price for May was 414c. from which it ad-
vanced to 42c, then broke off to Al &c during the
panic in wheat, and closed for the day at 41ac.
| Oats ruled quiet and firm and closed at yester-
| days figures. There very little doing in
mess pork and there no quotable change in
prices. Lard was again active and strong, ad-
vancing 10 Zoe per 100 TBS, falling back, but
closing fully loo higher than yesterday. Short
ribs were shade easier. The leading futures
ranged as follows: